The year is all wrapped up like a holiday present and we have the first monthly Victoria BC realty statistics post of the year covering December 2022.
Victoria Real Estate Stats for Condos and Apartments in December 2022
Condos having held their own throughout the market correction showed a dramatic decline (-17%) based on comparing Dec 2021 average sales prices to average sales prices in Dec 2022.
This is reflective of the dramatic drop in sales of Condos during Dec 2022 and not necessarily what the Condo market has done over the past year.
Victoria Real Estate Stats for Single Family Homes in December 2022
The average price comparison from Dec 2021 and Dec 2022 indicates a price change in the Single family (-8%) and Townhome (-9%) markets that is consistent with what we’ve seen generally happen in the market over the past year.
Anyone invested in the local market is unlikely to be surprised at the current single family home trends.
Victoria Real Estate Stats for Townhomes and Duplexes in December 2022
There are a variety of approaches to comparing markets over time, average prices, median price and the Home Price Index etc..
Each approach has a flaw which is why if you are considering selling you should consult an Expert with experience in the local market to determine the correct value of your property.